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2020 Federal Income Taxes

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dave77
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Re: 2020 Federal Income Taxes

Post by dave77 » Wed Feb 10, 2021 4:59 am

My return is pretty simple and I used FreeTaxUSA this year and last year. They submitted my 1040 a couple of weeks ago but also said IRS will not be accepting (or rejecting) e-filed returns until Feb. 12.

Good news, because I pulled quite a bit out of my 401k in 2019 I didn't qualify for much of the stimulus checks. I received the rest of the full amount as a tax credit.
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Hatchdog
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Re: 2020 Federal Income Taxes

Post by Hatchdog » Wed Feb 10, 2021 10:33 am

I filed ours with Turbo Tax about a week ago. Turbo Tax has it and will submit it to the IRS on the 12th. Figured I might as well get it in the que as soon as possible. Getting a small refund so no worries on the time.
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JEBar
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Re: 2020 Federal Income Taxes

Post by JEBar » Wed Feb 10, 2021 11:04 am

Hatchdog wrote:
Wed Feb 10, 2021 10:33 am
Figured I might as well get it in the que as soon as possible.
we are operating on the same theory
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Cowboy Gun Fan
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Re: 2020 Federal Income Taxes

Post by Cowboy Gun Fan » Wed Feb 10, 2021 2:34 pm

Sir Henry wrote:
Tue Feb 09, 2021 8:33 pm
Sales tax is 10.3%.
Ouch, ours is 5.3%. Less for food (about 2.5%).
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Shakey Jake
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Re: 2020 Federal Income Taxes

Post by Shakey Jake » Wed Feb 10, 2021 2:46 pm

I also use the H&R Block software. I worked for Block four or five years part time. I got tired of the office BS. Anyway, the software is as good as others and I use it for convenience since past years information can be imported. That said, I'm still waiting for a 1099 from the sale of my mother's home and my wife's 1099 from ETS. Seems like they get later and later. You can file anytime it's just that IRS isn't accepting them until the 12th.
Jake
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dave77
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Re: 2020 Federal Income Taxes

Post by dave77 » Wed Feb 10, 2021 8:08 pm

Just got an email saying the the IRS has accepted my return.
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JEBar
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Re: 2020 Federal Income Taxes

Post by JEBar » Wed Feb 10, 2021 8:15 pm

great to hear .... how long ago did you e-file it .. :?: .. just checked, ours is still pending
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dave77
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Re: 2020 Federal Income Taxes

Post by dave77 » Wed Feb 10, 2021 11:26 pm

I'm pretty sure FreeTaxUSA submitted it as soon as I completed it, around a couple of weeks ago. A friend of mine filed her return with them about a week later and hasn't received her acceptance e-mail yet.

I've found that when I file really early I usually see the refund hit my bank account in around a week after IRS accepts it but who knows with the co-vid going on. Same friend filed for unemployment clear back in Sept. and is still waiting for her first check.

With my tax credit I'm getting a decent sized refund this year, planning to use some of it on a new Langdon Tactical Beretta PX4c if they ever come back in stock. :(
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John E Davies
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Re: 2020 Federal Income Taxes

Post by John E Davies » Thu Feb 11, 2021 12:34 pm

I finished my taxes with Turbo Tax (Married Jointly, Standard Deduction). Toward the end it asked about the Stimulus checks. I entered $2400 for the first one and $0 for the second one, and was astonished when my refund shot up by $1200.I was pretty happy, but I suspected at once that it was not right. I double checked my bank records and discovered I had missed the second one which was deposited on January 4 of THIS year, not 2020. I entered $1200 in the second box, and my big “bonus” vanished instantly. 😢

They also have a new deduction, up to $300 cash for charities, even if you don’t itemize. That was a nice surprise.

John Davies
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JEBar
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Re: 2020 Federal Income Taxes

Post by JEBar » Thu Feb 11, 2021 1:59 pm

just checked, as of 1PM today ours is still shown as Pending .... no clue what time tomorrow the IRS will open the gate .... my hunch is there will be a flood
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